LONDON (Reuters) – Kier Group will sell its housebuilding and property businesses, cut about 1,200 jobs and suspend its dividend for at least two years in a radical overhaul designed to lower debt and stabilise the business. FILE PHOTO: A construction worker wears a branded jacket at the site for the Crossrail station in Tottenham…
New Delhi [India], June 15 (ANI): German multinational conglomerate ThyssenKrupp AG has appointed Premal Desai as the new Chief Executive Officer for its steel division to oversee the restructuring of business after the collapse of a proposed joint venture with Tata Steel in Europe. Desai has been Chief Financial Officer of ThyssenKrupp Steel Europe AG…
German multinational conglomerate ThyssenKrupp AG has appointed Premal Desai as the new Chief Executive Officer for its steel division to oversee the restructuring of business after the collapse of a proposed joint venture with Tata Steel in Europe. Desai has been Chief Financial Officer of ThyssenKrupp Steel Europe AG since 2015 and was previously…
We were surprised to hear from sources that Tesla was letting go some employees in the service teams at several locations today because the automaker claims to be focusing on expanding its service coverage. In response, Tesla told Electrek that they are still expanding service and the employees were let go in a restructuring of…
Politicians condemned as a complete whitewash a long-awaited report by the UKs financial regulator over why it failed to take action against the Royal Bank of Scotland over its disgraced restructuring unit. In a 78-page report published on Thursday, the Financial Conduct Authority largely repeated conclusions aired last summer when it said it could not…
Retrenchments rose in the first quarter of this year compared to the previous quarter, due to business restructuring and reorganization, said Singapores Ministry of Manpower (MOM) on Thursday. Among the sectors, retrenchments were driven by the manufacturing industry, the ministry said. A total of 3,230 workers were laid off in the first three months of…
Mike Ashleys Sports Direct has fired off a legal challenge against Debenhams rescue restructure, which was approved by creditors last month. The legal challenge is the latest blow by Ashley in his battle with the department store, which was taken over by a syndicate of banks and hedge funds it owed money. The deal thwarted…
Commodity trader Trafigura has joined rivals Gunvor and Vitol in reporting a large rebound in profitability helped by oil market volatility, with the companys results boosted further by a restructuring programme. Profits at the privately owned group had fallen to an eight-year low in 2018 as it was caught on the hop by a shift…
ASX-listed CommsChoice Group is planning to restructure its business, which will see its offshore call centre downsized with key functions moving back to Australia and about eight staff made redundant as it aims to remove non-core costs from operations and sales areas in Australia. The company also plans to pump more resources into its key…
International Business MachinesIBM has come up with a restructuring plan which includes massive layoff. The company reportedly announced plans to terminate around 1,700 employees from several of its units in different locations. IBM on Friday said that the restructuring was necessary in order to focus more on high-value segments of the IT market. It further…